New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 4, 2013
12:31 EDTSPRSpirit AeroSystems initiated with a Buy at Standpoint Research
Target $24.
News For SPR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 10, 2014
07:24 EDTSPRSpirit AeroSystems, Triumph Group deal a win-win transaction, says Wells Fargo
Subscribe for More Information
December 9, 2014
13:16 EDTSPRSpirit AeroSystems price target raised to $57 from $48 at Cowen
Subscribe for More Information
10:34 EDTSPRSpirit AeroSystems downgraded to Hold from Buy at Standpoint Research
07:46 EDTSPRTriumph Group to host a conference call
Subscribe for More Information
07:31 EDTSPRTriumph to take over production of Gulfstream G650, G280 wing programs in Tulsa
Triumph Group (TGI) announced the signing of a definitive agreement with Spirit AeroSystems Holdings (SPR) which Triumph will take over production of the Gulfstream G650 and G280 wing programs located in Tulsa, Oklahoma. The transaction is targeted to close by calendar year end, subject to customary closing conditions. Under the terms of the agreement, Triumph will receive $160M in cash plus assets required to run the business from Spirit to cover the anticipated future cash flow needs of the programs, with no additional capital contributions expected by Triumph. The company expects the programs to be initially cash flow negative, with operating cash requirements anticipated to decrease over the first three years and becoming cash flow positive in year four. The business will be included in the Aerostructures Group segment and is expected to add approximately $250M in annual revenue and to be immediately accretive to Triumph’s earnings per share upon closing, reflecting initial estimates of purchase accounting adjustments and excluding synergies resulting from the transaction and transaction related expenses. Upon the close of the transaction, production will continue out of Spirit’s Tulsa facility and Triumph will look to utilize its manufacturing experience, resources and wing design engineering capabilities as appropriate to supplement the Tulsa operations. The company will focus on optimizing the build process and cost structure of the programs, and has identified opportunities for engineering, supply chain and labor enhancements.
06:22 EDTSPRBoeing sees strong demand for commercial airplanes in 2015
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use